India: Ethyl Acetate Market 2024

Ethyl Acetate Market Size in India

The Indian ethyl acetate market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Ethyl Acetate Production in India

In value terms, ethyl acetate production expanded to $X in 2021 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 28%. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a lower figure.

Ethyl Acetate Exports

Exports from India

In 2021, after two years of decline, there was significant growth in shipments abroad of ethyl acetate, when their volume increased by 6.5% to X tons. Overall, exports, however, showed a perceptible slump. The most prominent rate of growth was recorded in 2013 with an increase of 45%. As a result, the exports attained the peak of X tons. From 2014 to 2021, the growth of the exports failed to regain momentum.

In value terms, ethyl acetate exports skyrocketed to $X in 2021. Over the period under review, exports posted mild growth. Over the period under review, the exports reached the maximum at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Belgium (X tons), Italy (X tons) and the United Arab Emirates (X tons) were the main destinations of ethyl acetate exports from India, together accounting for 43% of total exports. These countries were followed by Nigeria, Spain, Singapore, Kenya, Russia, Egypt, Bangladesh, Turkey, Nepal and the Netherlands, which together accounted for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Russia (with a CAGR of +33.9%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Italy ($X) and Nigeria ($X) were the largest markets for ethyl acetate exported from India worldwide, with a combined 44% share of total exports. The United Arab Emirates, Spain, Kenya, Singapore, Russia, Bangladesh, Egypt, Turkey, Nepal and the Netherlands lagged somewhat behind, together accounting for a further 40%.

Russia, with a CAGR of +37.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average ethyl acetate export price stood at $X per ton in 2021, increasing by 74% against the previous year. Overall, export price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +4.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major export markets. In 2021, amid the top suppliers, the highest price was recorded for prices to Nigeria ($X per ton) and Kenya ($X per ton), while the average price for exports to the Netherlands ($X per ton) and Singapore ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nepal (+5.6%), while the prices for the other major destinations experienced more modest paces of growth.

Ethyl Acetate Imports

Imports into India

Ethyl acetate imports into India soared to X tons in 2021, picking up by 241% against 2020 figures. In general, imports, however, recorded a slight contraction. The pace of growth appeared the most rapid in 2018 when imports increased by 2,442%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, ethyl acetate imports surged to $X in 2021. Overall, imports posted a perceptible expansion. The most prominent rate of growth was recorded in 2018 when imports increased by 1,703% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see steady growth in years to come.

Imports by Country

Saudi Arabia (X tons), China (X tons) and the United Arab Emirates (X tons) were the main suppliers of ethyl acetate imports to India, together accounting for 97% of total imports.

From 2012 to 2021, the biggest increases were recorded for Saudi Arabia (with a CAGR of +580.3%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, the largest ethyl acetate suppliers to India were Saudi Arabia ($X), China ($X) and the United Arab Emirates ($X), together comprising 75% of total imports.

In terms of the main suppliers, Saudi Arabia, with a CAGR of +317.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average ethyl acetate import price stood at $X per ton in 2021, declining by -52.2% against the previous year. Overall, the import price, however, showed a remarkable increase. The most prominent rate of growth was recorded in 2016 when the average import price increased by 200%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Saudi Arabia ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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